EUR/CAD potential shortLooks like we can expect some bearish momentum next week. Looking for a potential entry.
Eurcadsell
Eurcad A Drop is Ready for 300-500 pips as holding below 1.49Eurcad Trading around 1.4735 level where its ignoring above 1.4850 level and weekly top also seems around 1.4850 level.
If pair hold below 1.4850 we can see drop toward 1.44-1.45. Advice to sell pair in range of 1.4730-1.4820 SL above 1.4920 TP1 1.45 TP2 1.4350
Short: Retest Look wait for Sell Signal..This pair could have broken support, but i will wait for confirmation before taking a position
EURCAD Ready To Move upEURCAD on the daily time frame is getting close to its lower range and from above its getting squeezed by a resistance. This gives the chance on a nice strong upwards break the next days that can give 250 pips
TP: 1.4990
SL: 1.4630
Structure Exposed!Hi guys,
this is a trend continuation trade that i was paying attention to from last week. Now price has finally reached the structure zone and i want to be able to capture the movement that can be generated here, hopefully on the right side, that i think is bearish. That's why i'm waiting for a double top completion in order to get an entry signal to the downside. Stops would go above the highs, targets as i will show on updates.
I'll let you know if i manage to get involved.
If you want to share your view/ideas, feel free to comment below.
Otherwise, see you in the next chart!
Broken Support Becomes ResistanceHi guys,
this is a trend continuation trade that i was paying attention to from last week. Now price has finally reached the structure zone and i want to be able to capture the movement that can be generated here, hopefully on the right side, that i think is bearish. That's why i'm waiting for a double top completion in order to get an entry signal to the downside. Stops would go above the highs, targets as i will show on updates.
I'll let you know if i manage to get involved.
If you want to share your view/ideas, feel free to comment below.
Otherwise, see you in the next chart!
Short EURCAD Short Term Based On H1 TF Double Top Chart PatternWe can see the EURCAD has now formed a double top. For this chart pattern to be valid, price should break the neckline to validate the double top, pushing price further down.
This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
Crude oil strength means Loonie strengthI've been disgustedly inactive due to hectic school schedules as well as slow internet connectivity. For that, I will be publishing my rationale on why I entered the following trade.
For the past days, I've been obsessed with Canadian Dollar pairs.
If this Forex pair does break the graphed line, it may possibly dip to the 1.42500 area.
EURCADEURCAD. Opened a sell trade at 1.4571. Looing for a nice downtrend with this pair after the breakout. First TP 1.44 Level and SL at 1.463 (et yours at around that level)
EUR/CAD 1:3 RR, Worth a tryLooking at the chart, 1.465 being the critical level as it served as a support prior to the breakdown on 12/7/2016. 1.465 was tested twice on 18/7/2017 and 20/7/2017.
Worth putting this pair into your watchlist for the next couple of days or weeks. If it breaks and closes above 1.465, go long, TP 1.481 (160pips). But my bias is it is going to stay below 1.465, target @1.45 and stop @1.469 (150pips vs 40pips).
Lets see how it goes!
EURCADOur preference: lighten as long as 1.4707 is stopper with 1.4491 as objective.
Alternative scenario: the overflow of 1.4707, will validate an increase over 1.4785 and 1.4832.
Comment: The RSI is below its neutral zone of 50. The MACD is positive and below its signal line. The MACD must press the zero line to confirm a continuation of the drop. In addition, prices are below their moving average (1.4649) but above their moving average 50 (1.4621).
EURCAD More Drama On The WayThings dont look over yet for the bearish trend on EURCAD at the weekly time frame. Expect more bearish downwards movements the next weeks.
And lower range has been broken and it has opened the way for at least a 400 pip fall. This ofcourse, is on the weekly time frame. so on the daily, 4h and 1h time frames there will be plenty of retracements up that you can buy for a few pip. But with this strong sell set up the best advice that I can give is to enter a decent sell position and add more a long the way down.
EURCAD Short EURCAD .Waiting for a close outside this range (around 1.4495 level) then I am selling this pair.
Euro correction or Euro bear, and Loonie bullAfter the huge decline of the Euro and Loonie Forex pair, it has formed a consolidation on lower time frames showing that it may continue its decline later on with the formation of a descending triangle.
EUR/CAD - 300 Pips Opportunity ShortEUR/CAD is currently in a bearish trend and can extend it's loss 300+ more pips down.
This is definititely a trade opportunity to keep an eye on.
As always, money manage properly and invest only after your own analysis.
Happy Trading!
EURCAD Fly To The Moon SetupEURCAD on the 4 hour time frame is shaping up for a very nice buy setup. The range is shaped like a bullish wedge and the Stoch indicator made a bullish cross over. When it breaks out of this wedge we will see a very very nice green wave up.
tp: 1.4960
sl: 1.4690
EURCAD Short OpportunityThis trade is just the opposite of the CADCHF trade setup since these 2 pairs have a strong negative correlation.
But aside from the strong negative correlation, EURCAD has the trade setup which I am looking for so this makes a valid trade for me basing on my rules.
Please refer to this link for the CADCHF trade setup for more details:
Will enter this trade at 1.47900 with initial TP of 1.44600 to achieve 1:2 RRR while setting 165-pip stop loss. I know this is a very wide stop loss but it is just based on the size of the strong red candle which validates the trade idea and EURCAD has a quite high ADR so setting a 165-pip SL is also quite reasonable for the matter.
EURCAD Buy SetupEURCAD on the daily time frame has broken through the upper range and Stoch has just made the bullish crossover. When looking at the 4 hour time frame you see that on that time frame the Stoch is already showing a lot of buying pressure. ADX is still to make this crossover, but that one is always a bit slow, need about 3-4 green candles to make the green line go up.
When using the Elliot Wave Patterns there are 2 scenarios right now:
Scenario 1: Currently we are at the start of the 5th wave
Scenario 2: Currently we are at the start of an A B C
corrective wave
Still both support a buy, the question is how far it will go.
Either use the 1st support as a take profit 1.4869. or use this price to move up your stop loss up to 1.4820 and try to enjoy the possible 5th wave all the way to 1.50+
Stop loss 1.4720
